XGSI.L vs. CCLFX

Last updated Jun 4, 2026

XGSI.L (Xtrackers Global Government Bond UCITS ETF 3C USD hedged) and CCLFX (Cliffwater Corporate Lending Fund) are both funds - XGSI.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg USD, while CCLFX is a High Yield Bonds fund managed by Cliffwater. Over the past 5 years, XGSI.L returned -0.68%/yr vs 8.75%/yr for CCLFX. At a correlation of -0.01, they often move in opposite directions. XGSI.L charges 0.25%/yr vs 3.42%/yr for CCLFX.

Performance

XGSI.L vs. CCLFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) and Cliffwater Corporate Lending Fund (CCLFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XGSI.L achieves a -0.43% return, which is significantly lower than CCLFX's 2.33% return.

XGSI.L

• 1D: -0.24%
• 1M: 0.02%
• YTD: -0.43%
• 6M: -0.30%
• 1Y: 2.15%
• 3Y*: 2.59%
• 5Y*: -0.68%
• 10Y*: —

CCLFX

• 1D: 0.10%
• 1M: 0.48%
• YTD: 2.33%
• 6M: 2.93%
• 1Y: 7.37%
• 3Y*: 10.57%
• 5Y*: 8.75%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XGSI.L vs. CCLFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged	-0.43%	3.99%	1.24%	5.84%	-13.31%	-2.49%	5.86%	2.62%
CCLFX Cliffwater Corporate Lending Fund	2.33%	8.93%	12.62%	12.66%	2.32%	10.38%	8.73%	2.12%

Correlation

The correlation between XGSI.L and CCLFX is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Jun 6, 2019	-0.01

Return for Risk

XGSI.L vs. CCLFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XGSI.L

XGSI.L Risk / Return Rank: 17
XGSI.L Sharpe Ratio Rank: 17
XGSI.L Sortino Ratio Rank: 15
XGSI.L Omega Ratio Rank: 16
XGSI.L Calmar Ratio Rank: 18
XGSI.L Martin Ratio Rank: 18

CCLFX

CCLFX Risk / Return Rank: 100
CCLFX Sharpe Ratio Rank: 100
CCLFX Sortino Ratio Rank: 100
CCLFX Omega Ratio Rank: 100
CCLFX Calmar Ratio Rank: 100
CCLFX Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XGSI.L vs. CCLFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) and Cliffwater Corporate Lending Fund (CCLFX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	XGSI.L	CCLFX	Difference
Sharpe ratio: Return per unit of total volatility	0.49	8.50	-8.02
Sortino ratio: Return per unit of downside risk	0.72	20.12	-19.40
Omega ratio: Gain probability vs. loss probability	1.10	7.24	-6.14
Calmar ratio: Return relative to maximum drawdown	0.68	39.22	-38.54
Martin ratio: Return relative to average drawdown	1.91	215.60	-213.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGSI.L vs. CCLFX - Sharpe Ratio Comparison

The current XGSI.L Sharpe Ratio is 0.49, which is lower than the CCLFX Sharpe Ratio of 8.50. The chart below compares the historical Sharpe Ratios of XGSI.L and CCLFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XGSI.L	CCLFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.49	8.50	-8.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	5.10	-5.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	4.57	-4.35

Drawdowns

XGSI.L vs. CCLFX - Drawdown Comparison

The maximum XGSI.L drawdown since its inception was -17.29%, which is greater than CCLFX's maximum drawdown of -3.91%. Use the drawdown chart below to compare losses from any high point for XGSI.L and CCLFX.

Drawdown Indicators

	XGSI.L	CCLFX	Difference
Max Drawdown Largest peak-to-trough decline	-17.29%	-3.91%	-13.38%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-0.19%	-2.96%
Max Drawdown (3Y) Largest decline over 3 years	-4.29%	-0.46%	-3.83%
Max Drawdown (5Y) Largest decline over 5 years	-16.39%	-2.25%	-14.14%
Current Drawdown Current decline from peak	-6.55%	0.00%	-6.55%
Average Drawdown Average peak-to-trough decline	-5.68%	-0.16%	-5.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	0.03%	+1.10%

Volatility

XGSI.L vs. CCLFX - Volatility Comparison

Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) has a higher volatility of 1.48% compared to Cliffwater Corporate Lending Fund (CCLFX) at 0.25%. This indicates that XGSI.L's price experiences larger fluctuations and is considered to be riskier than CCLFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XGSI.L	CCLFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	0.25%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	0.65%	+2.28%
Volatility (1Y) Calculated over the trailing 1-year period	4.41%	0.88%	+3.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.30%	1.73%	+3.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.77%	1.88%	+2.89%

XGSI.L vs. CCLFX - Expense Ratio Comparison

XGSI.L has a 0.25% expense ratio, which is lower than CCLFX's 3.42% expense ratio.

Dividends

XGSI.L vs. CCLFX - Dividend Comparison

XGSI.L has not paid dividends to shareholders, while CCLFX's dividend yield for the trailing twelve months is around 10.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CCLFX Cliffwater Corporate Lending Fund	10.28%	10.47%	11.27%	10.96%	3.96%	7.03%	6.90%	0.61%
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XGSI.L and CCLFX in my portfolio?

XGSI.L and CCLFX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.